9787 


1 

A 

A 

0 

c 

0 

1 
0 

^s 

JREGIC 

0 

^ 

6 

1 
4 

RARYF 

4 

1 — 

8 

^ 

rTjard  Unlvers:' ty  .    Oraduste    school 
"of    business   aarunistpation ,    bureau 
of   business   r»-«'-^r-,rn> 
ml  let  in 


ni'i 


'Z/' 


i 


UNIVERSITY  OF  CALIFORNIA 

AT    LOS  ANGELES 


PUBLICATION  OF  THE  GRADUATE   SCHOOL  OF 
BUSINESS  ADMINISTRATION,  HARVARD  UNIVERSITY 


VOL.  II,  NO.  4  CAMBRIDGE,  MASS.  AUGUST,  1916 


BULLETIN  NO.  7 
BUREAU  OF  BUSINESS  RESEARCH 

HARVARD  SYSTEM  OF  STOCK 

KEEPING  FOR  SHOE 

RETAILERS 

<7\  AT  iU33  AWCZLEO 

FEB  1 L  :044 

B  R  A  R  V 


rilICB.<i9^5BNTS 


CAMBRIDGE 

HARVARD  UNIVERSITY  PRESS 

1916 


W- 


BULLETINS   OF  THE  BUREAU   OF  BUSINESS  RESEARCH 

Bulletin  No.  1.   Object  and  History  of  the  Bureau  With  Some  Pre- 
liminary Figures  on  the  Retailing  of  Shoes 

Bulletin  No.  2.  Harvard  System  of  Accoimts  for  Shoe  Retailers,  Expla- 
nation of  the  Profit  and  Loss  Statement 

Price  50  cents 
Bulletin  No.  3.   Harvard  System  of  Accoimts  for  Retail  Grocers,  Expla- 
nation of  the  Profit  and  Loss  Statement 

Price  60  cents 

Bulletin  No.  4.  Depreciation  in  the  Retail  Shoe  Business 

Price  50  cents 

Bulletin  No.  6.   Expenses  in  Operating  Retail  Grocery  Stores 

Bulletin  No.  6.   Harvard  System  of  Accounts  for  Shoe  Wholesalers, 
Explanation  of  the  Profit  and  Loss  Statement 

Price  50  cents 

Bulletin  No.  7.   Harvard  System  of  Stock-keeping  for  Shoe  Retailers 

Price  50  cents 


The  Bureau's  Bulletins  are  given  without  charge  to  those  who  cooperate 

with  the  Bureau  by  supplying  specific  information 

from  their  own  businesses. 


BULLETIN  NO.  7 
BUREAU  OF  BUSINESS  RESEARCH 


HARVARD  SYSTEM  OF  STOCK 

KEEPING  FOR  SHOE 

RETAILERS 


CAMBRIDGE 

HARVARD  UNIVERSITY  PRESS 

1916 


COPYRIGHT,  1916 
HABVARD  UNIVERSITY  PRESS 


CONTENTS 

PAGE 

Introduction 5 

Explanation  op  the  Harvard  System  of  Stock-keeping 

FOR  Shoe  Retailers 11 

Sales  Summary  Sheet 12 

Size-up  Sheet 15 

Consolidation  Sheet 19 

Order  Record 19 

Record  of  Receipts 23 

Stock  Record 26 


45G774 


HARVARD  SYSTEM  OF  STOCK-KEEPING 
FOR  SHOE  RETAILERS 

This  bulletin  provides  a  system  of  stock-keeping  for  shoe 
retailers.  Its  object  is  to  enable  shoe  retailers  to  increase  the 
rapidity  of  their  stock-turn  and  to  reduce  losses  from  deprecia- 
tion. This  system  is  based  upon  the  most  modern  methods 
of  stock-keeping  and  embodies  the  best  practice  found  by  the 
Bureau  in  the  retail  shoe  trade.  Actual  tests  have  shown  that 
it  is  applicable  to  a  shoe  business  of  any  size  or  grade. 

In  the  retail  shoe  business,  as  in  other  retail  businesses,  a 
high  annual  stock-turn  generally  results  in  good  profits  and  a 
low  stock-turn  frequently  causes  loss.  In  the  figures  collected 
by  the  Bureau  from  shoe  retailers,  which  were  summarized  in 
Bulletin  No.  1,  stock-turn  has  been  found  to  range  from  1.0 
to  3.6  times  a  year.  The  common  figure  is  1.8,  but  enough 
stores  are  turning  their  stock  2.5  times  a  year  to  indicate  that 
the  latter  figure  is  one  which  can  readily  be  attained  by  all 
retailers  using  proper  stock-keeping  methods.  A  high  stock- 
turn  is  especially  important  in  retail  shoe  stores  for  reducing 
loss  from  depreciation  —  a  subject  discussed  at  length  in 
Bulletin  No.  4,  '*  Depreciation  in  the  Retail  Shoe  Business." 

The  importance  of  a  proper  stock-keeping  system  arises 
from  a  few  obvious  facts  —  so  obvious  sometimes  that  the 
dealer  fails  to  realize  what  bearing  they  have  on  the  manage- 
ment and  profits  of  his  business.  The  demand  upon  a  shoe 
retailer's  stock  is  complicated  by  the  diversity  of  sizes  and 
widths  and  of  grades  and  styles.  The  development  of  rights 
and  lefts,  different  sizes,  and  varying  widths  has  been  due  to 
natural  causes.    Fashion  has  caused  still  further  diversifica- 


tion  ami  has  led  to  a  domaiul  for  rapidly  chanjiing  styles, 
especially  in  women's  shoes.  An  unworn,  perfectly  titting 
shoe,  for  whirh  the  style  has  passed,  becomes  less  valuable 
because  less  fashionable.  These  increasinf>;  complications  in 
the  shoe  business  make  the  wants  of  the  consumer  more  in- 
dividual and  more  highly  specialized  and  require  for  the  satis- 
faction of  the  sajne  group  of  customers  a  great  variety  of 
merchandise.  For  the  retailer  this  usually  means  an  increased 
stock,  with  fewer  stock-turns,  an  increased  interest  charge, 
and  increased  cost  of  depreciation.  Such  undesirable  develop- 
ments may  be  to  some  degree  avoided  by  unu^sual  vigilance  in 
adjusting  the  stock  to  the  varying  wants  of  the  customers. 
Not  only  must  the  dealer  have  what  the  customer  wants,  but 
because  of  the  high  average  unit  of  value  ^  he  cannot  afford  to 
carry  what  no  customer  demands.  "  Left-overs  "  and  "  end- 
sizes  "  2  absorb  profits  rapidly  as  an  example  typical  of  the 
retail  shoe  business  shows: 

60  pairs  of  shoes  bought  at  $2.75  a  pair $165 

sold  at  $4  a  pair 240 

Profit $75     31i% 

Operating  expense 25   % 

Net  profit 6|% 

Though  these  figures  are  seemingly  satisfactory,  they  accord 
with  facts  only  when  all  the  shoes  are  sold  at  the  original 
mark-up.  What  generally  happens  is  something  like  the 
following : 

^  It  is  estimated  that  the  average  unit  of  sale  in  the  retail  drug  busi- 
ness is  15-20  cents;  in  the  retail  grocery  business  it  is  probably  not 
much  greater;  whereas,  in  the  typical  retail  shoe  store  selhng  the  ordi- 
nary amount  of  findings  it  is  probably  not  far  from  $1.25-$1.50,  and  if 
shoes  alone  were  handled  would  of  course  be  still  higher. 

*  Those  sizes  near  the  ends  of  a  "  run  of  sizes  "  (a  common  "  run  "  in 
men's  is  from  sizes  5  to  11)  are  the  "  end-sizes."  Of  course  these  are 
bought  in  much  smaller  quantities  than  the  midway  sizes,  7  to  9,  but 
even' then  are  likely  to  be  overbought.  On  the  other  hand,  if  buying  is 
too  close,  there  is  the  risk  of  not  having  a  customer's  size. 


60  pairs  of  shoes  bought  at  $2.75  a  pair $165 

45  pairs  of  shoes  sold  at  $4  a  pair $180 

15  pairs  of  shoes  markied  down  to  $3 45     225 

Profit $60    26 

Operating  expense 25 

Net  profit 


1§% 

Three-fourths  of  the  ijet  profit  has  been  lost  in  mark-downs 
due  to  "  left-overs,"  "  end-sizes,'-  and  style  change.  Such 
losses  can  be  reduced  by  the  use  of  an  efficient  stock-keeping 
system.  Fortunately  the  high  average  unit  of  value  permits 
an  expense  of  recording  which  a  smaller  unit  could  not  bear. 
A  unit  of  $3  to  $5  or  more  warrants  a  stock-keeping  expense 
that  one  of  25  or  50  cents  would  not  permit. 

To  aid  in  more  accurate  buying,  an  extensive  use  of  aver- 
ages has  been  made.  Shoe  manufacturers  and  wholesalers 
have  prepared  charts  and  ''  runs  of  sizes,"  based  on  their  own 
experience,  to  guide  the  retailer  in  ordering.  One  unportant 
manufacturing  company  has  prepared  charts  for  men's  shoes 
and  for  women's  shoes,  based  on  the  sales  of  two  million  pairs 
in  the  United  States.  One  of  these  charts  is  substantially 
as  follows : 


Width 

4 

4i 

5 

5J     6 

6J 

7 

71    8 

8^     9 

9J 

10 

m 

11 

iii 

12 

AA 

1 

1 

/o\ 

(2) 

(3) 

A 

(4) 

1             **' 

j; 

(2) 

B 

(2) 

-(1)- 

(2) 

(3) 

C 

-(3)- 

(2) 

D 

{"i) 

E 

(A^ 

(3) 

(2) 

(3) 

EE 

V 

"^ 

(4) 

This  is  the  chart  for  men's  narrow  toe  shoes;  there  are  three 
other  charts  —  for  men's  broad  toes,  women's  narrow  toes, 
and  women's  broad  toes.  In  each  chart  the  area  indicated  by 
(1)  represents  80%  of  the  total  sales  in  the  ordinary  store; 


s 

area  (2)  roiMoscnts  16 ^ ,  area  (3)  3  %,  and  area  (4)  1  %  of  the 
&iles.  The  shape  and  <he  size  of  the  areas  differ  on  different 
charts.  For  example,  in  tlie  charts  for  women's  shoes  the 
area  marked  (1)  extends  between  3  B-E,  and  G^-  A-E.  There 
arc  also  differences  in  the  other  areas  but  the  above  chart 
shows  the  general  plan.  These  charts  show  that  a  retailer 
should  buy  with  great  caution  sizes  and  widths  outside  the 
central  sjiace,  area  (1),  and  that  even  more  caution  should  be 
exercised  in  buying  in  areas  (3)  and  (4)  than  in  area  (2). 

Another  large  manufacturing  company  has  decided  that  no 
one  general  chart  can  be  used  for  the  United  States,  but  that 
for  each  sex  there  should  be  at  least  three,  each  determined 
for  a  geographic  location.  This  company  advocates  one  chart 
for  the  southeast,  one  for  the  region  west  of  the  Mississippi, 
and  one  for  the  northeast.  In  its  own  investigations  the 
Bureau  has  found  great  differences  in  the  character  of  the 
demand  within  a  single  city.  A  shoe  store  located  in  the 
manufacturing  district  of  a  large  city,  where  many  foreigners 
are  employed,  cannot  use  the  same  chart  as  a  store  in  a 
wealthy  residential  district. 

Wholesalers  supply  standard  "  runs  of  sizes  "  to  shoe  re- 
tailers of  which  the  four  following  may  be  taken  as  typical : 

Men's  5      5i      0      6i      7      7}      8      8J      9      9}      10       lOJ       H 

5-11 1111111111        1  1  1 

5-8 1      1      2      2     2      2     2 

(Twelve  more  "  runs  "  range  from  5-10  to  8-11) 

Women's  2J      3       31      4       4§      5       5J      6       6J      7         7i         8 

2|-8 111112      1111  1 

3-6 12     2      2     2      2      1 

(Sixteen  more  "  runs  "  range  from  21-7  to  5-7) 

Similar  "runs"  are  provided  for  "Boys',"  "Youths',"  "  Little 
Boys',"  "Women's  Low  Heels,"  "Misses',"  "Children's"  and 
"  Infants'."  The  examples  given  mean  that  for  each  dozen 
pairs  ordered  on  a  width,  or  not  to  run  narrower  than  a  cer- 
tain width,  the  sizes  shall  be  distributed  as  indicated,  that  is, 


f or  a  "  run  "  of  men's  sizes  between  5  and  8  for  each  dozen 
pairs  there  shall  be  but  one  pair  5's  and  one  pair  5|'s  and  two 
pairs  each  of  the  remaining  sizes. 

There  can  be  no  question  as  to  the  service  rendered  to  all 
members  of  the  shoe  trade  by  these  charts  based  on  general 
averages.  At  the  same  time  they  are  undoubtedly  of  more 
service  to  the  manufacturer  or  wholesaler  who  sells  to  a 
number  of  communities  than  to  the  retailer  who  sells  in  a 
single  community.  There  are  wide  local  variations  in  the 
demand  for  sizes  and  widths.  As  in  qualities,  this  depends 
upon  geographic  location  and  upon  the  class  of  customers. 
The  Bureau  has  cooperators  in  the  retail  shoe  trade  who  sel- 
dom order  a  width  narrower  than  a  D,  and  it  has  others  whose 
business  would  suffer  had  they  not  a  hberal  sprinkling  of  A's. 
The  Bureau  has  charts  of  best  sellers,  constructed  by  a 
Chicago  retailer  for  men's  and  women's  shoes,  which  differ 
considerably  from  those  referred  to  on  pages  7  and  8. 

It  appears,  therefore,  that  each  shoe  store  has  to  determine 
its  own  selection  of  the  styles,  sizes,  widths,  and  grades  suited 
to  its  needs.  In  this  it  is  aided  in  great  measure  by  records 
of  its  own  experience.  Although  experiments  will  still  have 
to  be  made  and  risks  taken  if  the  business  is  to  progress,  as 
much  risk  as  possible  should  be  eluiiinated.  Toward  this  end, 
among  the  most  enlightened  and  successful  shoe  retailers, 
there  is  an  increasing  use  of  stock-keeping  systems.  These 
systems  vary  greatly  in  convenience  and  usefulness  but  prob- 
ably any  of  them,  if  kept  up  faithfully,  is  much  better  than 
none.  Even  with  the  best  system  is  use,  there  nuist  remain 
some  element  of  risk.  The  Bureau  has  cooperators  with 
excellent  stock-keeping  systems  who,  even  with  frequent  re- 
visions of  their  own  summaries,  have  occasionally  met  some 
unforeseen  changes  in  the  demand  for  sizes  and  widths  as  well 
as  in  styles.  Nevertheless,  without  their  systems  they  state 
that  they  would  feel  comparatively  helpless  and  have  a  de- 
cidedly greater  element  of  risk  in  their  business.    In  ordering, 


10 

i<  is  cortainly  much  safer  to  confine  guess-work  to  10,  20, 
or  even  30<;;  of  the  sales  than  to  "estimate"  the  cominp; 
business  as  a  whole  from  unrecorded  experience. 

The  Harvard  System  of  Stock-keeping  for  Shoe  Retailers, 
provides  forms  for  recording  experience,  in  order  to  keep  the 
stock  "  clean,"  free  from  "  end-sizes  "  and  "  left-overs." 
This  system  is  the  result  of  a  careful  study  of  stock-keeping 
methods  in  retail  shoe  stores  and  in  other  businesses.  Based 
on  practice,  it  has  been  thoroughly  tested  and  found  appli- 
cable to  shoe  businesses  lai'ge  and  small,  general  and  special- 
ized, with  popular  prices  and  with  high  prices.  The  general 
plan  and  sjiacings  of  these  sheets  have  been  carefully  tested 
by  a  special  inquirj^  into  the  experience  of  over  one  hundred 
of  the  Bureau's  cooperators,  selected  to  represent  various 
kinds  and  sizes  of  shoe  businesses  in  difTerent  sections  of  the 
United  States  and  Canada. 

As  a  preliminary  to  the  detailed  explanation  of  the  stock- 
keeping  system  a  few  definitions  are  needed.  Such  words  as 
"  last,"  "  line,"  "  style,"  "  grade,"  have  repeatedly  been 
found  by  the  Bureau  to  be  used  in  different  senses,  dependent 
upon  whether  the  speaker  is  a  retailer,  a  traveler,  a  manu- 
facturer, or  a  wholesaler.  For  its  own  purposes  the  Bureau 
has  found  it  necessary  to  standardize  definitions  for  a  few  of 
these  words,  and  in  doing  so  has  naturally  endeavored  to 
follow  what  it  believes  the  best  practice.  Some  of  these 
definitions  are: 

Grade  is  determined  by  the  retail  selling  price. 

Kind  indicates  the  sex  and  age,  that  is,  men's,  women's, 
youths',  misses',  boys',  children's,  and  infants'  shoes. 

Last  is  the  form  or  pattern  on  which  the  shoe  is  built  and 
may  be  the  basis  of  several  styles  (see  Line  and 
Style). 

Line  is  a  term  which  is  loosely  used,  with  so  many  vary- 
ing meanings  that  it  cannot  be  precisely  defined. 
Perhaps  most  frequently  a  "  line  "  contains  only 
one  grade,  but  it  may  contain  more.  Examples  are : 
Four  dollar  men's  Oxfords;    three  dollar  women's 


11 

high;  also  a  "  hne  "  of  men's  Oxford  tans  with  rang- 
ing grades.  The  term  is  also  sometimes  confused 
with  "make  "  (see  Make). 

Make  is  the  name  of  the  manufacturer  —  with  the  loca- 
tion of  the  factory,  if  there  is  more  than  one. 

Size  is  length,  indicated  by  figures. 

Stock  Number  designates  all  those  shoes  which  differ  only 
in  size  and  width,  and  have  all  other  characteristics 
in  common.  Stock  number  and  style  (see  Style) 
are  frequently  synonymous  but  not  necessarily,  for 
example,  a  slight  difference  in  the  stitching  or  lace 
eyelets  and  catches  might  warrant  a  different  stock 
number  on  really  the  same  style.  It  is  always  safe 
to  refer  to  a  style  as  covering  at  least  one  stock  num- 
ber but  not  vice  versa.  Style  is  more  inclusive.  Even 
though  stock  numbers  are  changed,  while  a  "  stock 
number  "  stands  it  is  more  specific  than  "  style." 

Style  is  the  cut  (following  broad  lines  and  not  noting 
extreme  refinements  —  see  Stock  Number),  the 
color,  and  the  material.  Examples  are:  Oxford, 
Balmoral,  Blucher,  button,  black,  tan,  patent,  cloth- 
top. 

Width  is  breadth,  usually  expressed  in  letters.  The 
Bureau  always  expresses  it  in  this  way. 


Explanation  of  the 
Hakvard  System  of  Stock-keeping  for  Shoe  Retailers 

The  Harvard  System  of  Stock-keeping  for  Shoe  Retailers 
records,  in  logical  and  compact  form,  size-ups  and  orders  by 
styles,  sizes,  and  widths,  and  receipts  and  sales  by  styles,  so 
that  the  proprietor  or  manager  can  tell  at  any  time  the  condi- 
tion of  his  stock  —  what  portions  are  moving  and  what  are 
not  moving.     The  system  comprises  the  following  forms: 

Sales  Summary  Sheet  (Form  7a). 
Size-up  Sheet  (Form  7b). 
Consolidation  Sheet  (Form  7c). 
containing  —  Order  Record. 

Record  of  Receipts. 

Stock  Record. 


12 

Samples  of  those  forms  aeeompany  this  biilh'tin.  Additional 
copies  nmy  be  obtiiineil  at  cost  from  the  liureau. 

On  the  Sales  Summary  Sheet  (Form  7a)  by  means  of  a 
daily  tally,  a  record  by  stock  iiuin])ers  is  kept  of  the  number 
of  pairs  of  shoes  sold  and  the  number  of  pairs  returned.  One 
sheet  has  space  for  recording,  without  reference  to  size  and 
width,  the  sales  and  returns  of  each  of  one  hundred  stock 
numbers  for  four  weeks.  This  record  shows  how  rapidly  each 
style  is  being  sold.  On  the  Size-up  Sheet  (Form  7b)  the 
number  of  pairs  of  each  size  and  width  on  hand  is  entered  for 
each  stock  number  —  one  sheet  for  each  stock  number. 
Spaces  are  also  provided  on  the  Size-up  Sheet  for  number  of 
pairs  on  order  and  number  of  pairs  due  for  each  size  and 
width.  The  number  of  pairs  on  hand  is  determined  by  actual 
count;  the  figures  for  the  number  of  pairs  on  order  and  for  the 
number  of  pairs  due  are  obtained  from  the  Order  Record. 
The  Consolidation  Sheet  (Form  7c)  consists  of  three  parts  — 
Order  Record,  Record  of  Receipts,  and  a  summary  Stock 
Record.  One  sheet  is  used  for  a  single  stock  number.  On  the 
Order  Record  is  entered  the  number  of  pairs  of  each  size  and 
width  to  be  ordered,  as  determined  for  each  order  by  reference 
to  the  Sales  Summary  Sheet  and  the  Size-up  Sheet.  The 
Record  of  Receipts  is  filled  out  from  order  blanks  and  invoices 
of  goods  purchased.  The  Stock  Record  on  the  same  sheet 
provides  a  monthly  summary  of  goods  received,  sales,  and 
returns. 

The  detailed  explanation  of  this  stock-keeping  system 
should  begin  with  the  Sales  Summary  Sheet  (Form  7a)  —  the 
first  of  the  three  sheets  referred  to  above.  A  portion  of  the 
Sales  Summary  Sheet  is  shown  on  the  opposite  page  for  pur- 
poses of  illustration.  Each  Sales  Summary  Sheet  shows  at  a 
glance  the  best  selling  and  the  poorest  selling  stock  numbers. 
On  it  are  recorded  the  sales  and  returns  of  100  stock  numbers 
for-four  weeks,  with  daily  entries  and  weekly  totals.  On  each 
side  of  the  heavy  double  line  in  the  centre  of  the  sheet  spaces 


13 


c 
c 

2 
b 

3 

0) 

3 

o 

- 

>> 

Eh 

•3 

03 

3 

o 

a 
g 

z 

M 

3 

3 

o 
H 

1 

S 
•3 

3 

o 
H 

>> 
1 

0 

z 

M 

a 

z 
W 

M 

o 
Eh 

"3 

Eh 

•3 

CO 

1 

pi] 

§8 

^  M 

OQ  ^ 
CO    U) 

H  .3 
h5   a 

m  ^ 

|i(  ^ 

^1 
iz;  M 

2   o 

S  a 

O  "S 

Ph   >> 

en 

•<!  -o 

u 

O   t 

O  ^ 
H 

Eh 

to 

t» 
>-) 
1-1 


14 

:uv  proviiKnl  for  "H)  slock  iiuiubers  —  one  stock  number  to  a 
lino.  In  the  column  at  the  extreme  left,  headed  "  Stock 
Number,"  the  stock  numbers  are  entered,  one  stock  number 
on  each  line.  In  the  weekly  divisions,  four  in  number,  the 
records  of  sales  and  i(>turns  of  these  stock  numbers  are 
kept. 

Each  weekly  space,  headed  "  Week  Ending ,"  is 

divided  into  four  columns.  The  first  two  of  these  columns  are 
for  "  Sales  "  and  the  last  two  colunms  are  for  "  Returns." 
In  the  first  of  the  "  Sales  "  columns,  headed  "  Tally,"  sales 
of  the  corresponding  stock  number  are  tallied  4nTl^  daily. 
To  tally,  a  vertical  mark  is  drawn  for  each  pair  of  shoes  up  to 
four,  as  follows  I  |  |  |  ,  and  for  the  fifth  pair  sold  a  cross  mark 
is  drawn  diagonally  through  the  four  vertical  marks,  thus 
JJ-rT'.  This  tally  is  repeated  for  each  five  pairs  sold.  At 
the  end  of  each  week  the  tallies  for  the  week  are  counted  and 
the  total  sales  for  that  stock  number  for  that  week  are  entered 
in  the  second  sales  column,  headed  "  Total." 

There  are  two  columns  for  "  Returns  "  in  each  weekly  divi- 
sion of  the  Sales  Summary  Sheet.  "  Returns,"  as  here  used, 
means  unworn  shoes  which  are  returned  and  which  can  again 
be  placed  in  the  stock  for  sale.  In  the  first  of  the  "  Returns  " 
columns,  headed  "  Tally,"  the  number  of  pairs  of  shoes  re- 
turned are  talhed  for  each  stock  number  in  the  same  manner 
as  sales.  In  the  second  "  Returns  "  column,  headed  "  Total," 
the  totals  of  the  tallies  of  returns  of  the  respective  stock 
numbers  for  the  week  are  entered.  Each  weekly  section  is 
used  in  the  same  way.  At  the  end  of  each  week  the  figure  for 
"■  Total  Sales  "  for  the  week  as  recorded  on  the  Sales  Sum- 
mary Sheet  is  entered  also  on  the  Stock  Record  of  the  Con- 
soHdation  Sheet  (Form  7c)  bearing  the  same  stock  number. 
At  the  end  of  each  month,  the  total  number  of  pairs  of  shoes 
of  each  stock  number  returned  during  the  month  is  deter- 


15 

mined  from  the  record  on  the  Sales  Summary  Sheet  and 
entered  upon  the  Stock  Record  of  the  ConsoUdation  Sheet. 

It  may  be  asked  why  the  Sales  Summary  Sheet  was  not 
constructed  for  months  instead  of  for  four-week  periods  so 
that  it  would  compare  exactly  with  this  monthly  Stock 
Record.  It  was  purposely  decided  not  to  construct  it  so, 
for  no  broken  weeks  were  wanted  on  the  Sales  Summary 
Sheet.  Since  the  entries  on  it  are  daily,  the  broken  weeks  of 
the  Stock  Record  can  be  readily  supphed  by  counting  the 
talhes  up  to  and  including  the  last  day  of  the  month,  no 
matter  when  in  the  week  that  day  comes.  Under  this  method 
the  Stock  Record  by  whole  months  is  supphed  and  the  totals 
of  the  Sales  Summary  Sheet  for  whole  weeks  are  not  dis- 
turbed. 

The  stock  numbers  at  the  left  on  the  Sales  Summary  Sheet 
may  be  entered  in  advance  or  only  as  sold,  depending  on  the 
nature  of  the  individual  shoe  business.  If  the  business  carries 
a  comparatively  few  (20-30)  active  stock  numbers,  it  may  be 
easier  to  have  them  all  entered  in  advance  in  the  order  that 
has  become  customary.  If  the  business  has  many  stock 
numbers  of  varying  activity,  it  may  be  easier  to  enter  num- 
bers as  sold  letting  the  order  of  their  sale  determine  their 
places  on  each  sheet.  Each  retailer  can  decide  for  himself 
which  method  he  prefers.  It  is  advisable  to  keep  separate 
the  sales  of  men's,  women's,  and  others,  whether  in  separate 
groups  on  the  same  sheet  or  on  separate  sheets.  One  sheet  at 
a  time  will  be  more  than  sufficient  for  many  shoe  stores. 
Two  sheets  will  be  ample  for  the  great  majority  of  shoe  stores. 
Tests  have  shown  that  not  more  than  ten  minutes  a  day  on 
the  average  should  be  required  to  keep  this  sheet  for  retail 
shoe  stores  with  yearly  sales  not  exceeding  $50,000.  The 
time  required  for  larger  businesses  will  increase  in  approxi- 
mate proportion. 

The  next  form  of  the  Harvard  System  of  Stock-keeping  for 
Shoe  Retailers  is  the  Size-up  Sheet  (Form  71)).     From  its 


16 

investigations  (he  Huicau  has  concluded  that  only  an  ex- 
tremely small  fraction  (probably  less  than  5  ';<)  of  the  retailers 
employing  a  continuous  inventory  depend  wholly  upon  it  for 
the  ordering  of  sizes  and  widths.  By  far  the  greater  portion 
rely  instead  on  a  "size-up"  —  an  actual  physical  count  of 
sizes  antl  widths  on  hand.  In  this  conclusion,  the  Bureau  is 
supported  by  the  observations  of  manufacturers  and  whole- 
sal(M-s  who  have  been  j^articularly  interested  in  this  matter. 

Theoretically,  it  should  l)e  possible  and  it  would  seem 
desirable  to  have  a  stock-keeping  system  so  detailed  and  so 
accuiately  kept  that  orders  might  be  determined  not  only  by 
mmiber  but  also  by  size  and  width  without  the  aid  of  a  size- 
up.  In  practice,  however,  it  appears  that,  owing  to  careless- 
ness, rush  hours,  and  part-time  salespersons,  incorrect  memo- 
randa creep  into  the  sales  slips  and  affect  the  accuracy  of  stock 
records  made  up  from  them.  An  error  or  two  of  this  kind, 
owing  to  the  high  average  unit  of  value  of  shoes  already  re- 
ferred to  (pages  6  and  7),  will  counterbalance  the  expense  of 
taking  a  size-up  which  shows  exactly  what  is  on  hand.  The 
Bureau  believes,  however,  that  this  difficulty  can  be  over- 
come to  a  large  extent  through  a  system  of  bonuses  for 
errorless  days  for  salespersons  (see  page  36).  Another  ob- 
jection to  a  system  which  records  sales  by  styles  and  widths 
is  weightier;  it  makes  the  system  unwieldy.  The  omission 
of  such  a  record  does  not  impair  the  chief  usefulness  of  the 
system.  The  main  service  of  a  shoe  stock-keeping  system  is 
to  show  what  numbers  and  styles  ^  are  moving  and  especially 
to  show  the  tendency  of  the  movement  to  increase  or  de- 
crease. A  record  of  styles  as  sold  in  the  order  of  their  impor- 
tance rather  than  of  sizes  and  widths  sold  is  the  central  idea  of  a 
stock-keeping  system.  The  size-up,  sure  to  be  taken,  will 
show  sizes  and  widths  on  hand.  A  comparison  of  this  with 
previous  on  hands  and  receipts  furnishes  the  sales  by  sizes 

*  These  are  frequently  coincident  but  not  always  —  see  definition  of 
Stock  Number,  p.  11. 


17 


and  widths  with  accuracy.  Accordingly  the  Bureau  soon 
reached  the  decision  that  it  would  be  impracticable  to  aban- 
don the  size-up  and  that  any  stock-keeping  system  which 
attempted  to  reckon  without  it  would  be  cumbersome  and 
not  materially  improved.  Consequently,  the  size-up  was 
accepted  as  a  fact  and  it  has  been  incorporated  as  an  integral 
part  of  the  Harvard  System  of  Stock-keeping  for  Shoe 
Retailers.  The  second  sheet  (Form  7b),  which  appears  on 
the  following  page,  is  the  Size-up  Sheet. 

The  ordinary  size-up  sheet,  so  well  known  to  the  shoe  trade, 
consists  simply  of  squares  as  follows,  dashes  usually  being  em- 
ployed to  represent  the  half  sizes;  for  example,  5,  — ,  6  means 
5,  5i  6: 


5 

— 

6 

— 

7 

— 

8 

— 

9 

—      10      — 

AA 

1 

A 

B 

C 

D 

E 

EE 

The  Bureau's  Size-up  Sheet  (Form  7b) ,  a  copy  of  which  is 
reproduced  on  the  following  page,  does  not  differ  from  this 
except  that  each  square  has  three  divisions.  If  only  the 
upper  spaces,  marked  1  in  the  key, 
are  used,  this  Size-up  Sheet  does  not 
differ  from  an  ordinary  size-up  sheet 
—  the  number  of  pairs  of  each  size 
and  width  on  hand  as  determined  by 
actual  count  is  entered  in  its  proper  space.  The  use  of  the 
additional  spaces  is  optional.  If  used,  space  2  can  be  em- 
ployed to  show  the  number  of  pairs  on  order,  that  is,  the  pairs 
ordered  but  not  yet  received  of  that  particular  size  and 


"       SIZE-UP   SHEET 

Key 

1.  On  hand. 

2.  On  order. 

3.  Due. 


18 


-o 

CI 

1 

rt  "H 

S 

KO   a, 

OQ 

C     C     3 

[      1.  0 
J     3.  D 

s 

00 

>t 

« 

9) 

I-l 

N 

1 

s 

i 

H 

»J 

< 

U 

S 

BJ 

OQ 

Ci] 

O              ^-v 

H 

K           ^ 

1^ 

o3 

U) 

w          t^ 

H 
5 

a         s    - 
2         1 

PU 

o 

iij 

U) 

§        fe 

k 

N 

«        hi 

SS 

H           H 

o 

1^ 
o 

«     H 

s 

2; 
o 

O 

o 

^           CL, 

in 

^ 

b          t^ 

s 

S 

1 

g                *-! 

It 

s     " 

►H 

OQ 

^ 

Q 

M 

tf 

<! 

> 

03 

n 

S 

OQ 

(- 

S 

^ 

R 

3       . 

>> 

;s 

<J 

H 

c. 
c 

1 

<: 

Ol 

m 

o 

Q 

w 

W 

19 

width.  This  figure,  as  well  as  that  for  pairs  due,  is  taken 
from  the  Order  Record,  to  be  described  later.  Space  3  can  be 
used  to  show  pairs  due,  or  pairs  transferred  from  another  stock 
number,  or  for  other  data  as  desired . 

The  Size-up  Sheet  is  constructed  so  as  to  bring  together  in 
a  useful  place  important  facts  about  a  single  stock  number. 
To  avoid  duplication  of  work,  as  soon  as  the  size-up  is  taken, 
the  Size-up  Sheet  should  be  attached  with  cHps  to  the  Con- 
soUdation  Sheet  (Form  7c)  having  the  same  stock  number. 
There  it  remains  until  the  next  size-up  on  that  particular 
stock  number  is  taken,  when  it  is  to  be  removed,  destroyed  or 
filed,  and  the  new  Size-up  Sheet  substituted  for  it.  The  latest 
Size-up  Sheet  is  thus  always  attached  to  the  Consohdation 
Sheet  for  the  corresponding  stock  number,  so  that  from  it 
may  be  seen  at  a  glance  all  the  essential  facts  in  the  history 
of  that  style  up  to  the  time  of  the  last  size-up.  In  order  to 
learn  whether  or  not  stock  is  accumulating,  the  figures  on  the 
last  Size-up  Sheet  should  always  be  compared  with  those  on 
the  Size-up  Sheet  which  is  removed.  These  facts  guide  the 
retailer  in  determining  new  orders  to  be  given. 

The  Consolidation  Sheet  (Form  7c),  as  its  name  indicates, 
consoHdates  three  records  —  orders,  receipts,  and  stock.  Like 
the  Size-up  Sheet,  the  Consolidation  Sheet  relates  to  one 
stock  number  only,  as  indicated  in  the  upper  right-hand 
corner.  At  the  top  is  also  given  a  full  description  of  the  shoe 
corresponding  to  the  stock  number,  together  with  its  make, 
selling  price,  billed  cost,  profit,  and  discount.  The  Order 
Record,  which  is  the  first  part  of  the  Consolidation  Sheet  to 
be  used,  provides  spaces  for  recording  by  pairs  as  many  as 
sixteen  separate  orders  for  each  style  and  width  ^  as  deter- 

^  Only  the  widths  are  printed  on  the  blank  form,  the  top  spaces  for 
sizes  as  in  the  Size-up  Sheet  being  left  for  insertion  by  the  user  accord- 
ing to  the  nature  of  the  shoe,  whether  men's,  women's,  children's,  and 
according  to  whether  there  is  an  extended  or  concentrated  range  of 
sizes.  To  provide  printed  sizes  for  all  these  conditions  would  make  the 
sheet  much  longer  and  hence  more  cumbersome  and  leave  much  waste 


20 


.1  ■ 

CQ 

CQ 

4) 

0) 

< 

< 

CQ 

Q  2 

iJ  ^ 
o5 
w  » 

Z  « 

O    9 

-  tn 
go 

8^ 

Q  2 

O   <u 

Z  "I 

O  I* 


21 


1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

16 

16 

I 

II 

III 

IV 

mined  from  the  Size-up  Sheet  and  Sales  Summary  Sheet. 
A  section  of  the  Order  Record  is  shown  on  the  opposite  page. 
The  orders  are  recorded  in  the  squares  as  indicated  in  the 
key,  the  spaces  corresponding  to  the  first,  second,  third, 

CONSOLIDATION  SHEET 
Key 
1-16.  Orders. 

I.  On  hand  at  beginning. 
II.   Total  bought. 

III.  On  hand  at  end. 

IV.  Sales. 


fourth  orders  respectively,  and  so  on  for  the  whole  sixteen, 
if  used. 

Note  carefully  that  this  Order  Record  is  the  basis  from 
which  order  blanks  are  filled  and  given  to  the  manufacturer 
or  wholesaler.  The  entiies  on  the  Order  Record  are  deter- 
mined from  a  study  of  the  Size-up  Sheet,  the  Sales  Summary 
Sheet,  and  the  Stock  Record.  These  entries  are  made  to 
guide  the  retailer  in  giving  his  orders.  Consequently,  the 
Order  Record  is  not  to  be  filled  from  order  blanks  but  order 
blanks  are  to  be  filled  from  it.  As  an  order  blank  is  filled 
from  the  Order  Record  it  will  be  well  to 
avoid  future  confusion  by  putting  a  circle 
or  parenthesis  around  each  entry  as  soon 
as  the  order  has  been  sent  in  and  to  cross 
the  spaces  not  used.  In  the  example 
given  here  it  would  be  clear  that  the  pairs 
decided  upon  at  the  first  and  third  orders  had  been  ordered 
from  spaces  1  and  3,  that  none  of  that  size  and  width  was 

space.  After  dihgent  inquiry  sixteen  was  selected  for  the  number  of 
spaces  as  an  outside  figure  to  cover  the  orders  given  in  a  year  on  any 
stock  number.  When,  under  exceptional  conditions,  it  should  be  ex- 
ceeded, a  second  Consolidation  Sheet  can  be  started  for  that  particular 
stock  number  and  attached  to  the  first.  Many  shoe  retailers,  however, 
will  not  require  half  of  these  spaces. 


(5) 

X 

(1) 

22 

needed  on  tlu>  second  onl(>r,  eonscquently  space  2  was  crossed 
hecjuise  not  us(>d,  and  lliat  ilic  next  order  wonld  he  from 
space  4. 

The  spaces  in  the  lowest  row  in  each  section  furnish  im- 
portant summary  fifi;ures  for  each  size  and  width  of  that 
particular  stock  num])er  and  are  to  be  filled  out  as  follows: 

I.  Number  of  pairs  on  hand  at  beginning  of  year. 

II.  Number  of  pairs  bought. 

III.  Number  of  pairs  on  hand  at  end  of  year. 

IV.  Sales. 

The  first  space  (I)  is  for  the  number  of  pairs  on  hand  at  the 
beginning  of  the  fiscal  j'ear  at  inventory.  It  may  be  well 
to  enter  this  in  red.  If  the  sj^stem  is  installed  between  in- 
ventories the  number  entered  here  will  be  the  first  size-up, 
and  at  the  next  inventory  a  new  sheet  can  be  started,  since 
it  is  decidedly  convenient  to  have  the  Consohdation  Sheets 
coincide  with  the  inventory  periods.  With  the  commendable 
growing  practice  in  the  retail  shoe  trade  of  taking  an  inven- 
tory every  six  months,  each  Consolidation  Sheet,  constructed 
for  one  year,  would  cover  two  fiscal  periods.  At  the  middle 
inventory,  that  is,  at  the  end  of  the  first  six-month  period,  as 
a  memorandum  a  figure  may  be  entered  in  red  in  a  corner  of 
space  I,  if  desired.  The  next  space  (II)  is  for  the  sum  of  all 
the  figures  in  the  spaces  1-1 G,  representing  the  total  pairs 
bought  of  that  size  and  width  during  the  year.  The  space 
(III)  is  for  the  number  of  pairs  of  shoes  on  hand  at  the  end  the 
year,  as  shown  by  the  last  Size-up  Sheet.  The  last  space  (IV) 
gives  the  sales  for  that  size  and  width  for  the  year.  This  fig- 
ure is  obtained  by  deducting  the  figure  in  the  third  space  (III) 
from  the  sum  of  the  figures  in  the  first  two  spaces  (I  -f-  II). 
If  any  shoes  have  been  entered  as  ordered  but  not  received, 
the  number  of  pairs  not  received  should,  of  course,  also  be  de- 
ducted. 


23 

This  summary  is  especially  important  for  determining 
which  sizes  and  widths  were  purchased  in  too  great  quantity 
during  the  year.  Reference  to  the  record  of  the  individual 
orders  will  show  which  order  was  too  large.  These  facts  fur- 
nish a  guide  for  purchases  in  future  seasons.  Whenever  it  is 
desired  during  the  year  to  compare  sales,  orders,  and  stock 
by  sizes  and  widths,  the  figures  can  be  obtained  from  this 
Order  Record  and  the  Size-up  Sheet.  The  sales  are  deter- 
mined by  subtracting  from  the  sum  of  the  number  of  pairs 
on  hand  at  beginning  and  the  nmnber  of  pairs  ordered,  the 
sum  of  the  number  of  pairs  on  order  and  the  number  of  pairs 
on  hand  at  the  last  size-up.  The  Bureau  recommends  fre- 
quent comparisons  of  this  sort  in  order  that  the  retailer  may 
learn  promptly  whether  or  not  all  of  his  stock  is  moving  with 
sufficient  rapidity. 

The  Record  of  Receipts,  in  the  lower  left-hand  corner  of 
of  the  Consolidation  Sheet,  is  a  concise  record  of  the  neces- 
sary facts  about  the  receipts  of  goods  ordered.  A  copy  of 
half  of  the  Record  of  Receipts  is  shown  on  page  25. 
When  was  each  order  on  the  Order  Record  given  ?  What 
dehvery  date  was  promised  ?  When  did  receipts  begin  ? 
How  many  separate  receipts  were  there  before  the  order  was 
completely  filled  and  how  many  pairs,  if  any,  were  yet  to 
come  after  each  receipt  ?  These  are  questions  answered  by 
the  Record  of  Receipts.  Provision  is  made  on  the  Record 
of  Receipts  for  sixteen  orders,  to  correspond  to  the  sixteen 
spaces  above  in  the  Order  Record.  There  are  no  entries  for 
sizes  and  widths.  The  total  number  of  pairs  of  the  first  order 
should  be  the  sum  of  the  ''  l  "  spaces  for  all  sizes  and  widths 
in  the  Order  Record  above.  The  second  and  third  orders 
should  be  the  sum  of  the  "  2  "  and  "  3  "  spaces  respectively 
in  that  record  and  so  on  with  the  remaining  thirteen,  if  that 
number  of  orders  is  required. 


24 


The  n'l'oril  for  (^;ich  order  is  as  follows: 


Order  Na 

Date  of 
Order 

No. 
Pairs 

Delivery 
Date 

Receipts 

Date 

Pre.  Rec'd 

Prs.  Due 

At  the  left,  the  number  of  the  order,  as  shown  by  the  order 
blank,  is  entered.  In  the  second  column  is  entered  the  date 
when  the  order  was  given.  In  the  third  column  —  "  No. 
Pairs  "  —  is  entered  the  total  number  of  pairs  on  the  order; 
as  just  explained,  this  is  the  sum  of  the  entries  in  the  spaces 
in  the  Order  Record  above  corresponding  to  this  order.  Under 
"  DeHvery  Date  "  is  entered  the  date  of  delivery  specified  or 
promised  by  the  wholesaler  or  manufacturer.  These  facts  are 
all  determined  from  the  Order  Record  or  from  the  order  blank. 
Under  "  Receipts  "  four  columns  are  provided  for  recording 
as  many  as  four  receipts  upon  a  single  order.  On  the  top  line 
of  the  first  "  Receipts  "  column  the  date  is  entered  on  which 
the  first  shipment  on  the  order  is  received.  On  the  second 
line  in  the  same  column  the  number  of  pairs  received  in  the 
first  shipment  is  entered.  This  number  is  subtracted  from 
the  total  number  of  pairs  ordered,  as  previously  entered,  to 
show  the  number  of  pairs  due.  This  figure  for  "  Pairs  Due  " 
is  entered  on  the  third  line.  The  second  "  Receipts  "  column 
is  used  similarly  for  a  record  of  the  second  shipment  received 
on  the  order;  in  the  third  and  fourth  columns  the  third  and 
fourth  shipments  are  likewise  recorded.  If  the  entire  order 
is  filled  in  one  shipment,  of  course  only  the  first  "  Receipts  " 
column  is  used  for  that  order.  The  receipts  on  each  of  the 
sixteen  orders  are  recorded  in  the  same  manner. 

jVoie  carefully  that  just  as  the  order  blanks  are  to  he  filled 
from  the  Order  Record,  so  the  first  four  columns  on  the  Record 
of  Receipts  are  to  be  filled  from  the  order  blanks,  original  or 


25 


Order  No. 

Date  of 
Order 

No. 
Pairs 

Delivery 
Date 

.    Receipts 

Date 

Prs.  Rec'd 

Prs.  Due 

Date 

Pra.  Rec'd 

Prs.  Due 

Date 

Pra.  Rec'd 

Prs.  Due 

Date 

Prs.  Rec'd 

Prs.  Due 

Date 

Prs.  Rec'd 

Prs.  Due 

Date 

Prs.  Rec'd 

Prs.  Due 

Date 

Prs.  Rec'd 

Prs.  Due 

ILLUSTRATION  OF  A  PORTION  OF  RECORD  OF  RECEIPTS, 

CONSOLIDATION  SHEET  (Form  7c) 

Harvard  System  of  Stock-keeping  for  Shoe  Retailers 

carbons,^  and  never  from  the  Order  Record  directly.  The  Rec- 
ord of  Receipts  is  to  be  filled  after  the  order  form  is  filled  and 
not  before.  Those  who  follow  these  instructions  will  save 
themselves  avoidable,  inconvenient,  and  expensive  errors. 

1  The  Bureau  recommends,  even  though  the  carbon  is  presumably 
identical,  that  the  entries  be  made  from  the  original  before  it  is  sent 
to  the  manufactiu-er  or  wholesaler.  This  not  only  makes  more  certain 
the  accuracy  of  the  Record  of  Receipts  but  it  insures  its  being  kept 
up-to-date  and  serves  as  an  additional  check  on  the  carbon  which  ia 
used  to  note  receipts. 


26 

Not  only  is  it  much  easier  to  enter  from  the  filled  out  order 
than  to  skip  spaces  and  add  figures  in  the  Order  Record  but 
if  the  "  Receipts  "  section  is  to  be  of  serv'ice,  it  is  also  abso- 
lutely necessarj-  for  the  Record  of  Receipts  to  correspond 
exactly  in  pairs  ordered  with  the  actual  order  given  to  the 
manufacturer  or  wholesaler.  The  percentage  of  error  is 
bound  to  be  less  if  the  Record  of  Receipts  is  filled  directly 
from  the  order  placed  rather  than  from  the  Order  Record, 
even  though  the  order  was  itself  originally  determined  from 
the  Order  Record.^ 

Last  on  the  ConsoUdation  Sheet  is  the  Stock  Record,  which 
without  regard  to  sizes  and  widths  shows  by  months  and 
weeks  for  a  j'ear  the  receipts,  sales,  and  returns  of  the  stock 
number  under  consideration.  A  copj-  of  the  Stock  Record  is 
shown  on  the  opposite  page.  This  record  furnishes  the  all- 
important  information  of  the  tendency  of  sales  and  stock  of 
this  stj'le  to  increase  or  decrease.  By  assembling  the  facts 
for  convenient  periods  so  that  they  can  be  easily  compared, 
the  Stock  Record  gives  a  valuable  guide  for  buj-ing.  For 
example,  at  any  size-up  a  shoe  retailer  might  find  his  stock 
on  a  common  size  and  width  to  be  the  same  as  the  original 
"  On  Hand  "  —  no  greater  and  no  less.  WTiether  he  should 
reduce  or  increase  his  stock  in  this  size  and  width  of  this 
stock  number  would  probablj*  depend  on  what  the  Stock 
Record  showed  him  about  the  sales  of  that  stock  number  in 
all  sizes  and  widths.  It  would  depend  upon  whether  total 
sales  for  the  last  few  months  were  declining  or  increasing  and 
also  upon  the  time  to  elapse  before  the  end  of  the  season.  If 
the  height  of  the  season  has  passed  the  retailer  should  be 
extremely  cautious  in  giving  new  orders  for  seasonal  goods. 

The  operation  of  the  Stock  Record  is  apparent;  one  column 
is  pro^nded  for  each  of  the  twelve  months.    The  first  item, 

*  Occasionally  an  order  cannot  be  completely  filled  and  Ls  cancelled 
short.  In  such  cases  the  proper  change  should  be  made  on  the  Record 
of  Receipts  not  by  erasing  but  by  crossing  the  old  figtires  and  inserting 
the  new  —  so  as  to  show  just  what  change  was  made. 


27 


1 

1 

1 

:2 
§ 

a 

o 

1 

.4 

' 

5 
§ 

5 
§ 

a 

O 

1 

f 

< 

w 

O 

1 

3 
l| 

a 

J3 
■*^ 

a 
o 

1 

03 

■t-i 

a 
S 

o 
o 

CQ 

'3 

CO 

a 

3 
P^ 

if 

o. 

'S 
o 

V 

o 

a  c 

OS 
3| 

H 

03 

a 
o 

-a 
1 

P 
2 

CO 

0) 
"3 

02 

3 

o 
H 

Eh    » 

OQ  W 

2  « 

<<    D. 

s  ^ 

o  g 

8o 

8! 

«  g 
o 

H 
CQ 


28 

"  On  Hand,"  in  e;u'h  column  is  llio  quantity  on  hand  at  the 
first  of  eac'li  month.  For  the  first  montii  and  usually  for  the 
seventh  month  it  would  be  the  inventory,  in  number  of  pairs, 
at  the  beginning  of  the  year  or  period.  It  should,  of  course, 
in  theory  equal  the  sum  of  the  "  On  Hands  "  in  the  Order 
Record  for  the  corresponding  date,  but  in  practice  there  may 
be  discrepancies  (see  page  31).  The  next  five  spaces  in  the 
column  arc  for  the  "  Weekly  Receipts  "  of  shoes  by  pairs. 
Five  spaces  allow  for  complete  weeks  and  the  part  or  parts  of 
weeks  completing  the  month.  The  Receipts  spaces  can  be 
readily  filled  from  the  Record  of  Receipts  at  the  left  of  the 
Consolidation  Sheet.  The  total  of  receipts  on  dates  falling  in 
the  given  week  will  be  the  Receipts  entry  for  that  week  in  the 
Stock  Record.  The  next  item  is  the  Total  Receipts  for  the 
month,  the  sum  of  the  five  weekly  entries  above. 

In  the  space  next  below  —  "  Returns  "  —  the  total  num- 
ber of  pau's  of  this  stock  numlier  returned  during  the  month 
is  entered.  Tliis  figm^e  is  brought  from  the  Sales  Summary 
Sheet  as  explained  on  page  13.  Since  the  returns  of  each 
stock  number  will  ordinarily  be  small,  space  is  provided  on 
the  Stock  Record  only  for  the  monthly  total  of  Returns. 

For  this  stock  number  the  total  number,  of  pairs  of  shoes 
available  for  sale  during  the  month  is  the  sum  of  the  number 
of  pairs  On  Hand  at  the  beginning  of  the  month,  the  Total 
Receipts,  and  the  Total  Returns.  This  sum  is  entered  in  the 
space  designated  on  the  Stock  Record. 

For  "  Weekly  Sales "  five  spaces  are  provided,  as  for 
Weekly  Receipts  —  one  space  for  each  weekly  total  of  sales 
as  recorded  on  the  Sales  Summary  Sheet  (page  13).  As  pre- 
viously explained  the  figure  for  the  incomplete  week  which 
makes  up  the  total  for  the  month,  in  addition  to  the  four  full 
weeks,  is  obtained  by  counting  the  tallies  of  the  sales  for  the 
.days  in  the  part  of  the  week  at  the  beginning  or  ending  of 
the  month.  The  sum  of  the  weekly  totals  for  sales  is  entered 
in  the  space  designated  —  "  Total  Sales  —  Month." 


29 

"  Total  Sales  to  Date,"  the  last  space  on  the  Stock  Record, 
is  for  the  sum  of  the  montlily  totals.  At  the  end  of  the 
second  month,  for  example,  the  Total  Sales  for  that  month 
are  added  to  the  Total  Sales  for  the  first  month  and  the  sum 
entered  as  "  Total  Sales  to  Date."  Thus  this  cumulative 
total  always  gives  the  "  Total  Sales  to  Date,"  including  the 
sales  for  all  the  months  in  the  year  to  date.  Each  monthly 
column  in  the  Stock  Record  is  used  in  the  same  manner. 

The  On  Hand  at  the  beginning  of  the  second  month  is  found 
by  subtracting  "  Total  Sales  —  Month  "  of  first  month  from 
"  Total  On  Hand,  Receipts,  and  Returns  "  of  first  month. 
If  at  any  time  net  sales  of  shoes  are  wanted,  "  Returns " 
should  be  deducted  from  "  Total  Sales  —  Month." 

With  this  general  explanation  of  the  three  sheets  of  the 
Harvard  System  of  Stock-keeping  for  Shoe  Retailers  a  sum- 
mary of  the  working  of  the  system  as  a  whole  can  be  given. 
The  Sales  Summary  Sheet  (Form  7a)  is  the  starting  point. 
Inspection  of  it  shows  where  size-ups  should  be  taken.  The 
record  on  the  Sales  Summary  Sheet  indicates  the  fastest 
selling  stock  numbers,  which  should  be  inspected  to  see  how 
the  sizes  and  widths  are  holding  out  and  what  ''  fill-ins  "  are 
necessary.  It  also  indicates  the  slowest  selling  stock  num- 
bers for  which  it  is  desired  to  know  how  many  sizes  are 
likely  to  be  "left-overs."  These  two  classes  demand  atten- 
tion first ;  size-ups  of  the  normally  selling  stock  numbers  will 
be  taken  in  the  ordinary  routine. 

As  soon  as  it  has  been  determined  what  stock  numbers 
should  be  sized-up,  the  Size-up  Sheet  (Form  7b)  —  one  sheet 
for  each  stock  number  —  is  brought  into  use.  This  is  filled 
from  an  exact  count  of  shoes  in  stock.  The  upper  spaces  arc 
filled  like  any  size-up  sheet  with  tallies  of  figures  for  the  pairs 
on  hand.  Reference  to  the  order  carbon  enables  "  Pairs  on 
Order  "  and  "  Pairs  Due  "  to  be  inserted  in  the  lower  spaces 
of  the  Size-up  Sheet.  The  method  of  obtaining  this  informa- 
tion from  order  carbons  will  be  discussed  later.    The  Size-up 


no 

Slu'ots  are  (lien  attacliod  with  dips  to  their  respective  Con- 
sohdation  Sheets  (Form  7e).  For  evcMy  stock  number  there 
is  a  ConsoUilation  Sheet  that  hears  tiiat  number  and  to  which 
the  Size-up  Sheet  with  the  corresponding  stock  number  should 
be  attached. 

The  Order  Record  of  the  Consolidation  Sheet  is  next  used. 
The  person  buying  will  first  compare  the  previous  Size-up 
Sheet  with  the  last  Size-up  Sheet  just  attached  to  see  whether 
stock  of  the  respective  sizes  and  widths  is  increasing,  running 
even,  or  decreasing.  He  notes  also  the  lower  right-hand 
spaces  of  the  Size-up  Sheet  to  see  what  pairs  are  due.  Glanc- 
ing at  the  Record  of  Receipts  in  the  lower  left-hand  corner 
of  the  Consolidation  Sheet,  he  learns  how  promptly  deliveries 
have  been  made  in  the  past  and  what  deliveries  may  be  lack- 
ing. Finally  the  Stock  Record  in  the  lower  right-hand  section 
of  the  Consolidation  Sheet  shows  the  all-important  tendency 
of  sales  for  tliis  stock  number  ^  —  whether  increasing,  decUn- 
ing,  or  continuing  at  about  the  same  volume.  On  the  basis 
of  these  facts  a  buying  decision  is  reached  and  the  figures 
for  the  orders  decided  upon  are  entered  in  the  proper  spaces 
of  the  Order  Record.  Spaces  not  used  are  crossed.  The 
order  for  the  manufacturer  or  wholesaler  is  then  made  out. 

The  usual  order  blank  is  similar  to  a  size-up  form  with 
proper  headings  and  at  least  one  carbon.  This  order  blank 
is  ruled  so  that  it  can  be  made  out  readily  from  the  Order 
Record  by  sizes  and  widths.  The  total  number  of  pairs  it 
represents,  its  date  and  the  expected  date  of  delivery  will  be 
entered  on  the  Record  of  Receipts  below.  As  the  order  blank 
is  made  out,  circles  are  drawn  around  the  spaces  in  the  Order 
Record  as  explained  on  page  21.  The  original  of  the  order 
goes  to  the  manufacturer  or  wholesaler  and  the  carbon  is 

1  It  might  be  noted  again  that  the  information  on  the  Order  Record 
is  by  sizes  and  widths,  while  that  on  the  Record  of  Receipts  and  Stock 
Record  is  for  numbers  only,  all  sizes  and  widths  being  thrown  together. 
This  is  the  result  of  testing  to  find  where  size  and  width  data  are  most 
useful  and  where  least  required  or  not  worth  the  trouble  of  getting. 


31 

retained  by  the  retailer  on  which  receipts  are  checked  and 
from  which  they  are  entered  on  the  Record  of  Receipts. 
When  the  shoes  are  sold,  the  sales  figures  are  entered  on  the 
Sales  Summary  Sheet.  Finally,  at  the  end  of  each  week,  the 
Stock  Record  is  brought  down  to  date  and  the  records  are 
complete.  The  Bureau  believes  that  in  this  procedure  not 
an  unnecessary  entry  has  been  made  or  a  necessary  entry 
omitted,  and  a  stock-keeping  system  is  provided  which  it 
pays  the  shoe  retailer  to  use. 

At  inventory  time  the  accuracy  with  which  the  records  have 
been  kept  can  be  checked  up  by  comparing  the  "  On  Hands  " 
of  the  Stock  Record  with  the  actual  inventory,  and  by  com- 
paring the  sum  of  the  "  Sales  "  spaces  (IV)  in  the  Order 
Record  with  the  Total  Sales  to  Date  of  the  Stock  Record  mi- 
nus the  total  Returns.  Some  discrepancies  are  likely  to  be 
found,  due  possibly  to  theft,  of  which  many  shoe  retailers 
complain,  and  due  in  part  to  the  fact  that  errors  inevitably 
creep  into  any  records  which  are  not  frequently  checked  and 
balanced.  In  the  Harvard  System  of  Stock-keeping  for  Shoe 
Retailers,  if  the  errors  are  small,  it  may  not  be  worth  while  to 
trace  them  down,  but  ejfforts  should  be  made  to  prevent  their 
recurrence.  So  far  as  compensating  errors  have  been  made, 
differences  between  the  recorded  "  On  Hand  "  and  the  actual 
counts  on  one  sheet  will  be  offset  by  differences  on  the  oppo- 
site side  on  other  sheets,  and  the  Stock  Records  as  a  whole  and 
the  inventories  as  a  whole  will  check.  Mistakes  may  be  made 
in  size  and  width  but  should  not  occur  in  number  of  pairs; 
the  "  overs  "  and  "  shorts  "  should  be  equal.  Exact  agree- 
ment between  them,  however,  is  not  absolutely  necessary.  If 
errors  are  infrequent,  although  not  entirely  eliminated,  the 
stock-keeping  system  gives  running  information  of  sufficient 
accuracy  and  of  great  aid  while  the  size-ups  give  the  precise 
information  most  needed. 

A  few  suggestions  about  the  installation  and  operation  of 
the  system  may  be  of  assistance.    The  best  time  to  begin  the 


32 

use  of  the  system  is  at  inventory  time.  Then  the  records  on 
the  Consol illation  Shoot  (Form  7c)  will  coincide  with  the  in- 
ventory poiiotl  or  periods  of  the  business  and  the  "  On 
Hands  "  will  be  those  of  inventory.  It  is  by  no  means  im- 
pcMativo,  however,  that  an  inventory  be  waited  for.  Prob- 
altly  the  next  best  time  to  start  is  on  the  first  of  a  month, 
which  gives  records  for  unbroken  months  on  the  Stock  Rec- 
ord. If  started  between  inventories  the  system  will  become 
distinctly  useful  before  the  next  inventory,  especially  if  aided 
by  a  general  size-up  taken  at  its  introduction.  The  Bureau 
doubts  the  advisability'  of  trying  to  fill  in  the  sheets  from  old 
records,  but  recommends  beginning  with  the  current  business 
—  a  clean  slate.  For  a  time,  until  the  new  sheets  accumulate 
data,  the  old  records  will  have  to  be  relied  upon.  This  is 
especially  true  in  using  the  Order  Record  of  the  Consolidation 
Sheet.  It  seems  wise  to  use  the  old  records  directly  rather 
than  to  trouble  to  transfer  them,  since  in  a  short  time  the  new 
sheets  will  contain  the  vital  facts. 

Daily  entries  are  required  only  on  the  Sales  Summary 
Sheet  (Form  7a)  but  it  is  urged  that  the  other  sheets  be  taken 
care  of  regularly.  One  of  the  chief  benefits  of  a  stock-keep- 
ing system  is  lost  if  it  is  not  kept  up  to  date.  Furthermore, 
records  easily  kept  with  but  a  few  minutes'  attention  each 
day  become  burdensome  if  allowed  to  accumulate  and  are 
apt  to  be  neglected.  The  manager  of  a  shoe  store  soon  learns 
the  rush  and  quiet  business  hours.  During  the  quiet  hours 
the  necessary  routine  work  such  as  receiving  and  sizing-up 
is  carried  on.  If  a  certain  portion  of  that  time,  say  the  first 
or  second  half-hour  or  hour  in  the  morning,  is  set  aside  for 
entering  the  preceding  day's  receipts  and  sales  of  shoes,  it 
will  soon  become  habitual  and  there  can  be  no  question  that 
it  pays. 

Though  the  system  itself  is  equally  applicable  to  all  sizes 
of  businesses,  the  arrangements  for  keeping  it  may  vary 
according  to  the  volume  of  sales.     In  a  small  shoe  store 


33 

(employing  not  more  than  2  or  3  persons  including  the  pro- 
prietor or  partners,  with  yearly  sales  ranging  from  $12,000 
to  $30,000)  the  proprietor  himself  may  do  all  the  work  of 
sizing-up  and  stock-keeping.  It  is  advantageous  for  the  pro- 
prietor of  a  shoe  business  of  this  size  to  do  all  of  this  work 
himself  since  in  no  other  way  can  he  acquire  so  much  valuable 
information  about  the  state  of  his  stock  in  so  short  a  time. 
If  the  proprietor  does  not  take  the  size-ups  and  keep  the  stock 
records  himself,  the  sizing-up  should  be  done  by  one  person 
and  the  keeping  of  the  other  stock  records  by  another.  This 
will  afford  a  check  upon  losses.  The  proprietor  will  find  it 
advisable  to  size-up  his  stock  personally  from  time  to  time 
in  order  to  check  the  accuracy  of  previous  records. 

In  a  medium-sized  shoe  store  (emplojang  4  to  6  persons, 
with  yearly  sales  of  from  $40,000  to  $60,000)  the  proprietor 
or  a  partner  does  the  buying,  but  the  sizing-up,  receiving, 
and  stock-keeping  may  be  done  by  employees.  Frequently 
an  employee  who  is  responsible  and  accurate  and  therefore 
well  fitted  for  keeping  stock  records  is  not  the  salesman  selling 
most;  consequently,  he  can  be  employed  on  the  stock  records 
without  diverting  the  most  valuable  selling  time.  If  the  store 
is  departmentalized  between  men's,  women's,  and  children's 
shoes,  there  can  be  one  person  in  each  department  to  size-up. 
Whatever  the  arrangement  for  sizing-up,  the  entries  on  the 
other  sheets  of  the  stock-keeping  system  should  be  made  by 
one  person  only,  but  not  by  the  person  who  takes  the  size-up. 
By  having  one  person  keep  the  stock  records,  facility,  accur- 
acy, and  uniformity  of  entries  are  obtained  and  responsibility 
is  fixed.  By  having  the  size-up  taken  by  another  person,  a 
check  upon  the  accuracy  of  the  records  is  secured. 

In  a  large  shoe  business  (employing  10  persons  and  more 
with  sales  ranging  from  $100,000  to  $1,000,000)  specialization 
is  necessary.  The  stock  will  be  sized-up  in  divisions  with  one 
person  to  each  division.  There  will  be  a  buyer  or  buyers,  a 
receiving  clerk  or  force,  and  a  stock-keeper.    Usually  there 


34 

will  be  a  store-room  '  as  an  imincdiiito  reserve  for  the  selling 
floor  or  flooi-s.  Size-up  Sheets  will  be  turned  in  daily  for 
various  stock  numbers  and  at  once  attached  by  the  stock- 
keeper  to  their  respective  Consolidation  Sheets;  to  these 
also  are  attached  the  last  Size-up  Sheets.  These  combined 
sheets  are  laid  on  the  buyer's  desk.  He  may  note  an  order  on 
the  Buying  Record,  or  he  may  lay  the  sheet  aside  for  the 
time.  Those  sheets  to  be  used  for  ordering  are  laid  in  a  pile 
for  the  order  clerk,  who  may  or  may  not  be  the  stock-keeper, 
according  to  the  magnitude  of  the  business.  He  fills  the 
order  blanks  and  turns  them  over,  together  with  the  Consoli- 
dation Sheets  to  the  stock-keeper  who  makes  the  necessary 
entires  on  the  Eecord  of  Receipts  of  the  Consohdation  Sheet 
and  destro3^s  or  files  the  Size-up  Sheet  just  preceding  the  last 
one.  Meanwhile,  the  receiving  clerk  has  been  checking  re- 
ceipts on  order  carbons  or  making  daily  memoranda  of  the 
pairs  received  by  mmibers  for  the  stock-keeper.  The  sales, 
however  transmitted  (see  pages  35-36),  are  coming  in  con- 
stantly from  the  floor. 

The  Bureau  believes  that  sizing-up  should  be  a  daily  process 
for  some  portion  of  the  stock.  What  part  of  the  stock  this 
is,  the  other  sheets,  especially  the  Sales  Summary  Sheet,  will 
show.  Though  some  portions  of  the  stock  should  be  sized-up 
more  frequently  than  others,  the  Bureau  beheves  that  the 
whole  stock  of  a  retail  shoe  business  should  be  covered  by 
at  least  one  size-up  every  two  weeks.     If  attempted  as  a 

'  This  may  involve  a  separate  store-room  record  showing :  On  Hand, 
Receipts,  and  To  Floor.  If  so,  the  Size-up  Sheets  will  be  for  the  floor 
only  and  account  will  have  to  be  taken  of  the  store-room  record.  If, 
however,  the  store-room  merchandise  is  kept  in  regular  multiples  by 
racks  convenient  to  note,  the  size-up  can  include  the  store-room  as  well 
as  the  floor.  After  investigation  and  consideration  the  Bureau  has  pro- 
vided no  store-room  record;  in  each  case  the  advisability  of  having  such 
9,  record  will  be  determined  by  the  conditions  governing  the  individual 
shoe  business.  Such  a  record,  if  kept,  will  be  a  memorandum  in  addi- 
tion to  the  Harvard  System  of  Stock-keeping  for  Shoe  Retailers. 


35 

general  size-up  on  a  certain  day  in  each  fortnight  it  would 
be  a  task  indeed,  but  done  each  day,  stock  number  by  stock 
number  or  Hne  by  Hne,  it  becomes  an  important  but  not 
burdensome  part  of  the  daily  routine. 

The  method  of  securing  entries  of  the  sales  on  the  Sales 
Summary  Sheet  the  Bureau  has  left  to  the  preference  of  the 
individual  shoe  retailer.  The  usual  way  is  from  the  carbon 
of  the  sales  slip  on  which  the  salesperson  has  entered  the 
stock  number,  size,  and  width,  as  well  as  the  price  of  the  shoe. 
As  has  already  been  noted  (page  16),  under  this  method  there 
is  a  tendency  toward  errors  due  especially  to  rush  hours  and 
the  emplojonent  of  extra  salespersons.  To  avoid  these  errors 
some  dealers  have  used  tags,  about  2  x  4|  inches  gummed  at 
one  end.  When  the  shoes  are  received,  the  proper  stock  num- 
bers are  entered  on  the  tags  which  are  attached  to  the  carton. 
The  loose  end  is  to  be  torn  off  and  turned  in  with  the  sales 
slip  ^  when  the  shoes  are  sold.  It  is  doubtless  true  that  the 
entry  on  the  tag  made  at  the  receipt  of  the  shoe  with  ample 
time  and  no  distraction  is  apt  to  be  more  accurate  than  the 
entry  on  the  sales  shp  during  the  rush  of  selhng.  The  follow- 
ing difficulties  with  the  tag  system  have,  however,  been  re- 
ported. The  salesperson  and  the  wrapper,  if  there  is  one, 
must  remember  the  tag  as  well  as  the  slip.  Even  greater  care 
must  be  exercised  to  make  sure  that  shoes  shown  but  not 
sold  are  returned  to  their  proper  cartons.  New  tags  have  to 
be  prepared  for  shoes  returned. 

Because  of  these  difficulties  and  also  for  the  following  rea- 
sons the  Bureau  is  inclined  to  recommend  adherence  to  a 
carbon  of  the  sales  slip  as  a  means  for  transferring  sales  to 
the  Sales  Summary  Sheet  (Form  7a).  First,  the  Sales  Sum- 
mary Sheet  does  not  require  a  size  and  width  entry  but  sim- 

^  Where  there  is  a  store-room  the  tag  is  in  duphcate,  that  is,  perforated 
in  the  center.  The  first  half  is  torn  off  when  the  shoes  go  to  the  floor 
and  the  second  when  they  are  sold.  To  permit  rapid  assorting  the  tags 
should  have  distinctive  colors  according  to  the  kind  of  shoe  —  men's, 
women's,  children's. 


86 

ply  the  entry  of  the  stock  number  of  the  shoe.  This  fact 
lessens  somewhat  both  the  (UMuands  on  the  salesperson  and 
the  chance  of  error.  As  already  exphuned,  the  Size-up  Sheet 
(Form  7b)  is  relied  upon  for  size  and  width  information. 
Second,  it  is  almost  universally  true  that  salespersons  at  the 
conclusion  of  a  sale  have  to  make  or  register  an  entry  of  some 
sort  whether  the  sale  be  cash  or  charge.  Little  additional 
time  is  required  to  write  the  stock  number.  Third,  though 
in  the  Harvard  Sj'stem  of  Stock-keeping  for  Shoe  Retailers 
errors  in  sales  slip  entries  are  somewhat  less  likely  and  less 
important,  errors  can  nevertheless  be  minimized  if  attention 
is  given  to  the  matter  and  especially  if  a  wrapper  is  em- 
ployed (the  wrapper  may  also  be  the  cashier  or  the  utility 
boy).  If  a  bonus  of  fifteen  cents  a  day  is  paid  to  each  sales- 
person for  each  errorless  day,  each  error  discovered  to  repre- 
sent one  day's  bonus,  and  if  furthermore  a  bonus  of  five  cents 
is  paid  to  the  wrapper  for  each  error  detected  in  copying  on 
the  sales  slip,  there  will  be  a  marked  reduction  in  errors. 
This  reduction  in  errors  can  be  brought  about  at  less  expense 
than  may  commonly  be  supposed.  Part  of  it  may  ultimately 
come  in  a  reduction  of  PM's  because  of  a  cleaner  stock.  The 
records  of  bonuses  received  can  be  considered  in  raising  sala- 
ries or  in  installing  a  different  system  of  compensation. 

The  Bureau  further  recommends  that  the  sales  slips  be  in 
distinguisliing  colors  according  to  the  land  of  shoes  sold  — 
men's,  women's,  children's,  and  others.  These  slips  can  be 
in  groups  in  the  same  sales  book;  their  use  greatly  facilitates 
the  preliminary  sorting  of  sales  by  the  stock-keeper. 

Although,  if  preferred,  cards  can  be  used  for  stock-keeping, 
the  Harvard  System  of  Stock-keeping  for  Shoe  Retailers  is  in 
sheet  form  only  and  can  be  most  conveniently  used  in  loose- 
leaf  binders.  Some  dealers  may  prefer  to  have  separate 
binders  for  their  men's  and  women's  shoes  respectively.  The 
^ales  Summaiy  Sheets,  one  for  each  four  weeks,  thirteen  for 
the  year,  would  come  first  in  the  binder,  followed  by  the 


37 

Consolidation  Sheets.  The  Size-up  Sheets  of  course  will  not 
be  in  these  binders,  except  as  those  filled  in  are  temporarily 
attached  to  the  Consohdation  Sheets.  The  Size-up  Sheets, 
either  in  loose  form  or  in  blocks,  will  probably  be  most 
conveniently  filled  if  they  are  attached  to  an  ordinary  clamp 
board.  This  furnishes  a  support,  yet  permits  removal  or 
change  at  will. 

This  stock-keeping  system  furnishes  the  retailer  with 
records  to  guide  his  buying  and  to  aid  in  obtaining  a  faster 
stock-turn.  The  Consolidation  Sheet  records  show  which 
styles,  sizes,  and  widths  have  been  most  frequently  demanded 
by  his  customers.  By  basing  his  orders  at  the  beginning  of  a 
season  on  his  previous  experience,  he  can  buy  intelligently. 
During  the  season  the  Sales  Summary  Sheet  shows  constantly 
which  stock  numbers  are  moving  and  which,  if  any,  are  stag- 
nant. Stocks  of  shoes  which  are  not  moving  should  be 
watched  with  especial  care  in  order  that  they  may  be  dis- 
posed of  with  as  small  a  sacrifice  as  possible  and  in  order  that 
losses  from  depreciation  may  be  checked.  For  styles,  sizes, 
and  widths  which  are  in  demand,  the  records  on  the  Size-up 
Sheets  and  Order  Records  provide  a  necessary  guide  for  re- 
plenishing his  stock.  By  regulating  his  orders  and  his  stock 
in  accordance  with  these  records  a  retailer  can  meet  the  re- 
quirements of  his  trade  and  at  the  same  time  insure  a  rapid 
stock-turn. 


45(i774 


PUBLICATIONS  OF  THE  GRADUATE  SCHOOL  OF 
BUSINESS  ADMINISTRATION 

HARVARD  BUSINESS  STUDIES 

Volume  1.  Scientific  Management.  A  Collection  of  the  more  Significant 
Articles  Describing  the  Taylor  System  of  Management.  Edited  by 
Clarence  Bertrand  Thompson,  LL.B.,  A.M Price  $4.00. 

Volume  2.  Lectures  on  Printing,  By  D.  Berkeley  Updike,  A.  W. 
Elson,  and  others.     In  press. 

BULLETINS   OF  THE  BUREAU   OF  BUSINESS 
RESEARCH 

(See  inside  of  front  cover) 

STUDENT  REPORTS   ON  BUSINESS  PROBLEMS 

Report  No.  1.  Comparative  Basic  Costs  of  Manufacture  by  Hand, 
Linotype,  and  Monotype,  of  8-,  10-,  and  12-Point  Non-teclmical 
Text  Matter,  Set  Both  Leaded  and  Solid.  By  Henrt  Htjntlt 
Taylor,  M.B. A.  (Awarded  the  May  Prize  in  1914  as  the  best  gradu- 
ation thesis  in  the  Harvard  Graduate  School  of  Business  Adminis- 
tration.)     Price  60  cents 


I  ^•lv^:Rsn^  oi-  cali forma,  i.os  angeles 
t^,  '  Mpi  rill-:  uNivi^Rsnv  lihkary 


DUE  on  the  last  d.itc  stamped  below 


JAN  1 1  ^^ 

jUN  2  5  1«SH 


I   9  Jsn 


SEm-2,'<3(D203) 


UHIVEKSITY  OF  GALIFORNU 

AT     ' 
LQ     ANGELES 
LIBRARY 


Harvard  Univer- 
5  J-  ly . — Duj'eau 
.H2h     of  Business  Re- 
geai'cli  ^ 
Harvarc]   system 

of    cif.nr'V    v^^p-,-^^.    -p^ 


UC  SOUTHERN  REGIONAL  LIBRARY  FACILITY 


111  II 


AA    001  006  144     8 


■-d 


